The last few years have brought changes to boards as they adjust to the changing world. From a constant pace of regulatory changes to the COVID-19 cholera pandemic rising technologies and geopolitical tensions board directors are figuring out new ways to communicate with each with each other and carry out their oversight responsibilities.
A dynamic agenda is essential to ensure that board meetings are efficient and productive. The proper mix of managerial and strategic topics will allow your board to achieve its objectives while avoiding time-wasting distractions.
A dynamically designed agenda for your board starts americanboardroom.com/why-board-of-directors-meeting-attendance-matters with the most important topics that allow your team to begin quickly and stay focused. It also includes an item called parking lot for off-topic discussions which can be put off until the next meeting.
When you prepare for your board meetings, provide concise board papers and executive summaries rather than lengthy descriptions. Directors will be able to focus on the most important questions to have a thorough discussion. You might want to include additional information to help your board better know the issues. This could include market data (such as customer retention and acquisition rates) and financials of the company, key performance indicators, or product development milestones.
Avoid discussing sensitive legal issues during board meetings if the general counsel is not present. You must be mindful of the attorney-client privilege which shields the company from discovery in the event of a lawsuit against a member of the board.
